PRESS RELEASE

A.M. Best Affirms Ratings of Union Insurance Company P.S.C.


(Dubai, UAE- 29 January 2017) - A.M. Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb” of Union Insurance Company P.S.C. The outlook on the FSR remains stable, whilst the outlook on the Long-Term ICR remains positive.

According to AM Best release, the Credit Ratings reflect Union’s strong technical profitability, robust risk-adjusted capitalisation and solid business profile. The positive outlook on the Long-Term ICR reflects A.M. Best’s expectation that management action, aimed at de-risking Union’s balance sheet, will lead to improved risk-adjusted capitalisation and more stability in earnings, which may drive a positive rating action.

The release highlighted that Union has demonstrated a track record of reporting strong technical results since a change of management during late 2012. The new management team has been successful in executing its ambitious plans for achieving profitable underwriting growth, despite the prevailing competitive market conditions in the United Arab Emirates.

Union’s domestic market share has strengthened notably over the past three years, with the company achieving a top five position amongst UAE-listed insurers. Union’s life segment, in particular, has experienced rapid growth since the company obtained a license to commence underwriting life business in 2013.

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With offices across the UAE, Union Insurance is close at hand to serve clients. Whether signing up for a new policy or making a claim, you can reach us at any of the offices below. Also, be sure to check this page regularly, as we continue to open new offices.


Toll free number : 800 UIC4U(84248)
Enquiries : info@unioninsurance.ae
Comments : feedback@unioninsurance.ae
Regularly Working Hours : 8:30am to 05.00pm

OFFICES

Head Office

Single Business Tower, Sheikh Zayed Road
P.O Box 119227 Dubai, United Arab Emirates
Tel: +971 (04) 3787 777(764)
Fax: +971 (04) 3787 778

Abu Dhabi (Motor Claims)

Al Corniche tower Building, Abu Dhabi Corniche,
P.O Box 54524 Abu Dhabi, United Arab Emirates
Tel: +971 (02) 6906 555
Fax: +971 (02) 6906 556

Ajman (Motor Claims)

Ground & Mezzanine Floors, Ajman Building
Sheikh Khalifa bin Zayed Road
P.O Box 1225 Ajman, United Arab Emirates
Tel: +971 (06) 7014666
Fax: +971 (06) 7014668

Dubai (Motor Claims)

Al Ittihad Road, Al Mana Building,
Showroom no. 6,
P.O Box 35272 Dubai, United Arab Emirates
Tel: +971 (04) 3787 444
Fax: +971 (04) 3787445

JAFZA

Jebel Ali Free Zone Building 16 Office no. 15,
P.O Box 119227 Dubai, United Arab Emirates
Tel: +971 (04) 3787 477
Fax: +971 (04) 3787 478

JLT

Jumeirah Business Centre (JBC3) Cluster Y,
16th Floor, Jumeirah Lakes Towers
P.O Box 119227 Dubai, United Arab Emirates
Tel: +971 4 315 1700
Fax: +971 4 315 1701

Ras Al Khaimah (Motor Claims)

Al Nakheel- Al Naeem Building,
Office # 101 & 102
Etisalat Street
P.O BOX 12921 Ras Al Khaimah,
United Arab Emirates
Tel: +971 (07) 203 8181
Fax: +971 (07) 203 8182

Sharjah (Motor Claims)

Al Raha Tower, Showroom no. 2
P.O Box 97733 Sharjah, United Arab Emirates
Tel: +971 (06) 5939 888
Fax: +971 (06) 5939 889

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